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Rent To Own FAQs

Q:  
How Does JERODZ REI, LLC Lease To Own Work?

A:
Our lease to own program works very similar to actually buying a home.  The program gives you the tenant/buyer the right to Lease and Purchase a home generally for a period of up to 2 to 3 yrs. (however, the length of term can be adjusted/customized to your circumstance).
The JERODZ REI, LLC program locks in the price of the home as if you have already purchased it and cannot be increased. As the home increases in value while you’re living in it; the equity would be essentially growing in your name, often giving you instant equity when you finance and buy the home.

Q:
Does any of my monthly lease payment go toward buying the home?

A:
Yes It Does! Again, just like when you buy a home, a portion of your monthly payment will be going toward buying the home (straight to principal).  No more wasting money on rent and getting nothing for it.
But there’s more!  In the JERODZ REI, LLC program, generally for the first year, you will be getting approximately double per month going to principal than if you would have gotten financed. This gives you even more rapid equity building power, which helps you to get your financing in place that much quicker. So, stop wasting your money on rent and making your landlord rich.  STILL MORE EQUITY BUILDERS BELOW!!!

Q:
Is the monthly payment higher than normal lease or rent payments?

A:
Absolutely Not! In the JERODZ REI, LLC program the monthly payments are in direct proportion to the average market rents in the area and often below.

Q:
Are there any up front fees to get started in finding a home?

A:
No! You pay nothing up front to work with a JERODZ REI, LLC representative. We will work with you and show you properties until you find the home you have decided is the one you want to purchase through our program. At that time you will fill out an application. There will be an application fee at that time.
NOTE: We do have a special program called our “Priority Customer Program”.  This program gives you 3 additional benefits in finding a home over our General Database Customers.   Please inquire about this program when speaking to one of our representatives.

Q:
Is there an initial investment/down payment once I choose a home and am approved?
A:
Yes. There is an initial investment required.  The amount varies per property, however, the amount you put down will affect the price and monthly payment you pay for the home.  The more you can put down, the better the terms that can be worked out for you.
NOTE: Again, just like buying a home, 100% of that initial investment goes directly toward the purchase of the home (straight to principal/equity).  It will be counted as your down payment when you get your loan, so you will not have to come up with additional funds for a down payment once we get you your qualifying home loan.

Q:
Do you offer a Down Payment Assistance Program?
A:
Possibly.  In some cases, on some properties, we can offer assistance with a small portion of the down payment, but not in all cases.

Q:
Do I have to choose a home in your inventory?
A:
No!  JERODZ REI, LLC has numerous ways to work with you on other homes.  If we do not have a home that meets your criteria once you are ready, we will begin to specifically target homes that meet your criteria until we find a home for you; we are usually pretty good at finding you a home quickly.
OR
In some cases, you can even pick out your own home that is available for sale out there on the market; we will attempt to acquire it for you and put you in it under the JERODZ REI, LLC program. (Please call for details on this program).

Q:
If I'm self-employed, can I buy a home through your program?
A:
Yes!  As long as you have some proof of income from your business, we should be able to help you get into a home with no problem.

Q:
If I have had a Bankruptcy or Foreclosure or have Liens can you still work with me?
A:
Yes. In most cases we will still be able to get you into a home and back into homeownership through the JERODZ REI, LLC program.

 

Q:
Do I have to finance the home through JERODZ REI, LLC and if so, what would the interest rate be.
A:
No.  Our goal is to simply get you financeable.  Once you have reached that point, you are free to get your financing through any lender of your choice (we will however, usually have lenders to recommend to you, that have the best loan packages/offers we can find).  Your interest rate will depend on what is being offered by lenders and/or the market at the time you are ready to finance.

Q:
Is it hard to Qualify for a JERODZ REI, LLC home.
A:
No.  Our goal is to simply get you financeable.  Once you have reached that point, you are free to get your financing through any lender of your choice (we will however, usually have lenders to recommend to you, that have the best loan packages/offers we can find).  Your interest rate will depend on what is being offered by lenders and/or the market at the time you are ready to finance.

 

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